As they say, the future is not ours to see, but soon with advances in machine learning and AI, we will be able to see closer and even change it.
Artificial Intelligence and ML are two different things. The main concept behind AI is a computer program designed to accomplish tasks that require intelligence.
Machine learning, as the name implies, is an area of ML where algorithms get feedback from experience and improve their accuracy.
When it comes to managing your future, you can use ML to make the best investments. Investment does not necessarily mean money, but also many other things including personal lifestyle management.
Here are the best ways you can manage your future with machine learning:
To schedule things better
When the horizontal and vertical lines meet, it means the schedule is complete. You might want to schedule your meetings better in the future.
For doing so, AI and ML can be used to predict the results of potential meetings beforehand. For example, if you want to see the people who are currently in your vicinity and schedule a meeting, then the AI will make a comparative analysis between the people who are nearby.
If you want to plan a holiday and you have not decided where to go yet, ML can be used to tell you which place is better than the other. The algorithm may be as simple as doing a comparative analysis based on factors like temperature, crime rate, etc.
The technology also gives us an option for future planning. For example, if you have 10,000 dollars to spend, AI and ML can tell you which things you should buy and which things do not need to be bought.
To make the best career choice
If you are in a certain career and it is not going well, ML can tell you the steps that can help improve your career and the other 2 million people who are in the same career as you. The process needs some computation time, but it can’t be that difficult.
The 2 main factors include how long an individual will work with a certain company over a while; if they leave, then what would happen to them (e.g., they would find another job), etc. It is not possible to predict a career’s success today. But this prediction can be done over some time and companies can avoid hiring someone who will leave within the next 10 years.
For example, AI can predict a person’s behavior over a period of time and tell the company whether they are likely to leave or not. In this way, it will be easy for companies to understand their employees better and the companies won’t hire someone likely to leave within the next 10 years.
To manage your finances better
The more you spend, the more money you need to earn in order to make up for it. This also applies to savings, and if you want your savings to grow over time, then you need a good rate of return on your savings. However, we have not been able to see consistent positive results from our investment in stock markets or mutual funds so far. AI and ML can be used to solve this problem.
So, how can AI predict the potential return on your investments? There is a huge amount of information that we can use to predict the future of stock markets. For example, we can look at what happened in the past and see how long it took for the market to recover from a recession, or how long it will take an economy to bounce back from a recession, etc.
AI will suggest you say, “The market has had this kind of performance before so I think it will do well in the future.” It is difficult for humans to make predictions about stocks, but AI and ML algorithms are very useful because they are not burdened with emotions and prejudices when making decisions.
Furthermore, as AI will have access to your finance tools like your income-expenditure records, wallets, investments, etc., it will be able to guide you towards better financial management.
To understand people better
The study of human behavior is pretty old and it is all about understanding human behavior at a deeper level. Things, like why people behave in a certain way and why they do not; where these things come from, etc. Humans can’t study this on their own. It’s because of the huge amount of data involved in the process.
At best, we can study the behavioral patterns in small sample sizes (about 20 to 100 individuals). But if we want to get a comprehensive view of individual behavior or entire species’ behavioral patterns, then we can utilize AI and ML algorithms to understand people better through an automated approach.
For instance, what are the driving forces behind human actions, how do we behave when the stakes are high, and if we have done certain things in the past, then what is our likelihood to do it again, etc? We can also use AI and ML to predict our likelihood to behave in certain ways.
Likewise, people will get AIs to use to understand people’s psychological attributes through a sample of their behavior or online activities. We can look at people’s social network analysis and determine if they have a certain kind of friends who will influence their decisions positively or negatively. A person may have friends who like them but they still might do dumb or embarrassing things sometimes (this way AI can avoid these interactions).
To schedule meetings better
When you think of scheduling a meeting, you think of booking a room in a venue, determining which people you need to invite to the meeting, and calling them up or sending an invitation by email.
If we can predict who is going to attend the meeting beforehand and what their attendance status is expected to be then we can find out when and where the meeting should take place for everyone.
So that’s what AI does; it schedules meetings based on the data given. It will use your social network’s data about your friends’ busy schedules for scheduling meetings.
In addition to this, it will also look at the probability of people’s attendance, the reasons behind their absence from the meeting, etc. This will enable you to build confidence in what you are doing.
To diagnose your medical conditions better
We would obviously like to know what the issues are so that we can get better. But just because we have a list of symptoms, it does not mean that the list is complete or it is even accurate. How do you confirm what you are experiencing?
By listing out all the possible sources of your issues, checking them one by one, and finally confirming your condition. However, this process takes a lot of time and it also involves a lot of human error as well as subjective analysis techniques and interpretation. It’s because our brain can only process so much at any given point in time.
We can use AI to diagnose these issues faster and more accurately than humans through machine learning (ML). Even if they are unable to make the correct diagnosis immediately, it will be possible to narrow down the list of issues over time and eventually yield a more accurate diagnosis.
To actually predict the future (up to an extent)
We talked about AI today predicting the future in the context of stocks and investments. However, it is possible to see AI making predictions about something outside of the financial world too.
For example, it’s possible to use Machine learning techniques (ML) to predict processes such as which process participants will follow during a meeting, how much time they will spend on each stage, and what kind of emotions party A will feel towards party B at any point and whether they will reciprocate that later on, etc.
It is not as simple as looking at a second-order derivative of some value or applying some math formula though. In fact, it can be challenging to come up with algorithms that work with high accuracy.
AIs will predict the future by using data on things like how much time they should spend during different breaks, the length of discussions between people, and the amount of agreement and disagreement that both parties about a particular issue feel. AI can predict what will happen in the short as well as the long-term effects of a particular action of us.
Businesses use ML for consumer insights and marketing effectiveness.
We may also use ML in the future to accurately gather consumer insights and inform the consumer in real-time.
It can pull data from social networks, search engine queries, and other relevant places to find patterns that humans will not be able to determine without some form of AI.
AI will monitor all your online activities from web browsing to online shopping. It can take into account the weather conditions and other environmental factors (like a current level of sunlight for example) in predicting how people are likely to behave or react in different scenarios.
The best example is the use of machine learning algorithms (ML) by Facebook for targeted ad placement for ads on social media platforms.
Recruiting new employees with the help of ML
Recruiting new employees with the help of machine learning algorithms (ML) will help you to find faster and more perfect candidates for you.
AIs such as Deep learning, Bayesian inference, and pattern recognition will enable us to predict the probability of candidates being right for a certain role. In addition to that, it will also provide you with the mathematical reasoning behind why a particular candidate is likely to be right for that role.
This allows you, as an employer, to know the probability of which candidates would be able to perform well in their current roles and their future roles. It also allows you to decide which candidates can be trained or promoted faster and whether they should be paid more or less efficiently in your business.
- What if we discovered the algorithm of thought?
- What if we entered an era of algorithms?
- Fake data help robots learn the ropes faster: But how?
Automating repetitive tasks or providing new solutions that automate routine work or support processes
An advanced ML system can help to automate repetitive jobs or provide solutions that automate routine work.
For example, people can use it in the context of call centers to predict the nature of a topic that they are likely to discuss and then route the call accordingly. It is possible to train AI with algorithms and use it in your business or home.
Likewise, some companies provide chatbots, which are chatbots that can answer basic customer inquiries and support questions.
There are even AI-based assistants such as Siri and Cortana, who can speak on your behalf to gather information or make a request. As they become more advanced, they will be able to understand things in more detail such as the context of the question or request being made by you.
Helping your maintenance to predict the best time for repair and maintenance
AI systems will help you predict when maintenance is necessary to fix a particular problem or when it is good enough to wait before getting someone to come over there.
Experts can train an AI system to enable them to identify patterns and patterns in data. If it identifies something unusual, it will notify maintenance as soon as possible.
AIs such as Deep learning, Bayesian inference, and pattern recognition will enable us to predict the probability of candidates being right for a certain role.
In addition to that, it will also provide you with the mathematical reasoning behind why a particular candidate is likely to be right for that role. This allows you, as an employer, to know the probability of which candidates would be able to perform well in their current roles and their future roles.
As machine learning or AI will inevitably have a huge influence on our future, properly managing their role and predicting their effects will be crucial for a successful future. The governments will have to prepare themselves with laws that regulate the use of AI in various sectors such as medicine, criminal justice, finance, insurance, etc. as well as having a proper education system that can train people in an environment with AI. They also need to be careful and aware of how they are preparing AIs. A wrong timeline of advancements could lead to the dangers of misuse, discrimination, and a toxic environment.